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EARNINGS PER SHARE | 6 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The Company computes basic and diluted earnings per share amounts based on net income attributable to common stockholders for the periods presented. The Company uses the weighted-average number of common shares outstanding during the period to calculate basic earnings per share, or EPS. Diluted EPS adjusts the weighted average number of shares outstanding to include the dilutive effect of outstanding common stock options and other stock-based awards. The Company currently has outstanding shares of Class A Common Stock. Unvested Class A Restricted Common Stock holders are entitled to participate in non-forfeitable dividends or other distributions. These unvested restricted shares participated in the Company's dividends declared and were paid in the first and second quarters of fiscal 2023 and 2022. As such, EPS is calculated using the two-class method whereby earnings are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of unvested restricted shares. A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2022 |  | 2021 |  | 2022 | 2021
Earnings for basic computations (1) | $ | 169,543 |  |  | $ | 153,742 |  |  | $ | 306,933 |  | $ | 245,418 |
Weighted-average common shares outstanding for basic computations | 132,266,373 |  |  | 134,759,240 |  | 132,317,689 |  | 135,158,270
Earnings for diluted computations (1) | $ | 169,546 |  |  | $ | 153,745 |  |  | $ | 306,939 |  | $ | 245,422 |
Dilutive stock options and restricted stock | 462,872 |  |  | 557,189 |  | 551,452 |  | 689,278
Weighted-average common shares outstanding for diluted computations | 132,729,245 |  |  | 135,316,429 |  | 132,869,141 |  | 135,847,548
Earnings per common share |  |  |  |  |  |
Basic | $ | 1.28 |  |  | $ | 1.14 |  |  | $ | 2.32 |  | $ | 1.82 |
Diluted | $ | 1.28 |  |  | $ | 1.14 |  |  | $ | 2.31 |  | $ | 1.81 |
(1) During the three months ended September 30, 2022 and 2021, approximately 1.1 million and 1.0 million participating securities were paid dividends totaling $0.5 million and $0.4 million, respectively. During the six months ended September 30, 2022 and 2021, approximately 1.0 million and 0.8 million participating securities were paid dividends totaling $0.8 million and $0.6 million, respectively. There were undistributed earnings of $0.9 million and $0.7 million for the three months ended September 30, 2022 and 2021, respectively, allocated to the participating class of securities in both basic and diluted EPS. There were undistributed earnings of $1.4 million and $0.9 million for the six months ended September 30, 2022 and 2021, respectively, allocated to the participating class of securities in both basic and diluted EPS. The allocated undistributed earnings and the dividends paid comprise the difference between net income presented on the condensed consolidated statements of operations and earnings for basic and diluted computations for the three and six months ended September 30, 2022 and 2021. The impact of any anti-dilutive options excluded from the calculation of EPS was not material.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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